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KCSMMHZ
Dec 26, 2012 6:00am PST
cuts and tax increases. obama is scheduled to return to washington on thursday in time to restart talks. the u.s. president is asking congressional executives to compile a compromise plan that features continued tax cuts for the middle class. that represents a shift in his policy that called for higher taxes on the wealthy, along with measures to cut the fiscal deficit. talks between democrats and republicans came to a standstill last week. a deal still remains uncertain. the republicans canceled a vote on their compromise plan. that's because many republicans remain opposed to any kind of tax hikes. >>> china has opened what it calls the world's longest high-speed rail line. the railway links the capital city of beijing and ghangzhou in the south. shun ishibe have more. >> reporter: the first high-speed train for beijing is about to leave guangzhou south railway station. many passengers are carrying coats, because the temperature in beijing is about 20 degrees centigrade lower than here in guangzhou. the new line stretches nearly 2,300 kilometers, including a section already in service
KCSMMHZ
Dec 28, 2012 2:30pm PST
that obama will discuss measures for avoiding the rest of the automatic spending cuts and tax hikes that will bite if lawmakers fail to come up with a plan. >> pessimism remains the prevailing mood in washington as the january deadline rapidly approaches. neither democrats nor republicans have any new proposals for a workable compromise. >> the starbucks coffee chain has urged its workers in washington, d.c., area to write "come together" on the cups, a plea for party leaders to work out a compromise, but some customers say that is not enough. >> i mean, i like with starbucks is riding on the cups. i wish they would write, like, something else, like "republicans, stop being stupid." >> i think the solution will probably be neutered and not very effective, but ultimately, i think they will avoid the fiscal cliff. >> but neither side appears willing to give in. democrats, for example, are frustrated that republicans will not agree to raise taxes on the wealthy. >> the majority of rich people in our great country are willing to pay more. the only people who disagree with that are repub
KCSMMHZ
Dec 28, 2012 5:30pm PST
a basic package for a vote. obama has been pushing republicans to limit tax breaks to people making less than $250,000 a year. he also at one point raised the threshold to $400,000. but the republicans want the hikes to apply to people who make an annual income of $1 million or more. obama also wants to extend unemployment insurance to 2 million americans. some analysts believe the challenge of t-- the chance of deal is slim. they say the economic impact will be worse the longer uncertainty persists. >> reporter: we think it is highly unlikely, more in a two in three chance that we will go past january 1st date with no agreement on the fiscal cliff. the failure of congress to act before the fiscal cliff deadline has disrupted financial markets and raised uncertainty, and that heightened uncertainty in the near term will depress economic growth further, primarily through lower household spending and business investment. already household attitudes have deteriorated sharply in response to the fiscal cliff worries, and we think this will lead to a sharp slowdown in economic activity in the
Search Results 0 to 2 of about 3